DIRS.INFO The most relevant business & tech news

☆ Dutch court finds Facebook misused data in class action suit
▼ + stars: | 2023-03-15 | by ( ) www.reuters.com time to read: +2 min

"Personal information was given to third parties without Facebook users being informed and without there being a legal basis to do so." The decision was directed at Facebook Ireland because it is the part of the company that oversees the processing of Dutch user data. A spokesperson for the plaintiff, Data Privacy Stichting, said the group now hopes to sit down with Facebook to negotiate a settlement. "We think this is a very strong signal not only to Facebook but to all companies that are unrightfully using their users' data." The Data Privacy group was launched in 2020 as a partnership between a group of law firms and the Dutch Consumers' Association to try to seek damages.

☆ TomTom raises 2023 revenue outlook as automotive drives Q4 beat
▼ + stars: | 2023-02-03 | by ( Federica Mileo | ) www.reuters.com time to read: +1 min

Feb 3 (Reuters) - Dutch navigation and digital mapping company TomTom (TOM2.AS) raised its 2023 revenue forecast on Friday, after posting better-than-expected fourth-quarter revenue driven by strong automotive performance. After being hit by the global chip shortage that has disrupted the automotive and electronics industries, TomTom is now starting to benefit from the recovery in global car production. The Amsterdam-based firm, whose customers include Volkswagen (VOWG_p.DE) and Microsoft (MSFT.O), forecast revenue for the current fiscal year in a range of 540 million euros to 580 million euros ($588.33 million-$631.91 million), with free cash flow of between 0% and +5% of the revenue. The group had previously guided for a revenue of 500-550 million euros, with 425-475 million euros generated from its core location technology business, and free cash flow at breakeven. The company posted revenue of 139 million euros for the quarter ended Dec.31, beating company-compiled analysts' average forecast of 120 million euros.

☆ Nightlife safe space for LGBTQ+ community tested in Amsterdam
▼ + stars: | 2023-01-19 | by ( Charlotte Campenhout | ) www.reuters.com time to read: +1 min

[1/6] Drag queen Divina stands at Reguliersdwarsstraat near safe space "Dress & Dance" which offers people a place to change before and after they go out so that they don't have to walk down the street in their going-out outfit, in Amsterdam, Netherlands January 14, 2023. REUTERS/Piroschka van de WouwAMSTERDAM, Jan 19 (Reuters) - A hair salon in Amsterdam's nightlife district opened after hours at the weekend to offer a safe space for members of the LGBTQ+ community who do not feel safe in the city to dress before going out for the night. The "DRESS&DANCE" pilot project was organised by students at the InHolland University and Maud Gussenhoven, who manages the city's central Reguliersdwarsstraat street. "It is sad that this is needed but there have been incidents that have made people feel unsafe," said Gussenhoven. Reporting by Charlotte Van Campenhout Editing by Alexandra HudsonOur Standards: The Thomson Reuters Trust Principles.

There were new twists on foldable devices, cars that changed colors and smart ovens that live streamed dinners. Patrick T. Fallon/AFP/Getty ImagesBMW unveiled a wild color-changing concept car with 260 e-panels that can change up to 32 colors. During a demo, different parts of the car, including the wheel covers, flashed in varying hues and swirls of colors. A new look for foldable phonesSamsung's Flex Hybrid Display concept folds and slides SamsungSome companies offered a new twist on the foldable phone concept. The lock, which will cost $300, will be available for purchase late this spring, according to a company press release.

☆ Atlantia exit highlights Milan's battle to retain market heavyweights
▼ + stars: | 2022-11-25 | by ( Elisa Anzolin | Hadeel Al Sayegh | ) www.reuters.com time to read: +4 min

snapshotFEW NEWCOMERSOn the plus side, four companies joined the main Euronext Milan market this year, including truckmaker Iveco (IVG.MI), which was the result of a spin off. The situation is healthier for Euronext Growth Milan itself, a market dedicated to small and medium-sized enterprises with minimum access requirements. Over the past 20 years, the main market has lost 268 listed companies and gained only 185, according to Intermonte research published in March. In contrast, the less regulated SME market has attracted 263 listed companies and seen 68 delistings. CULTURAL ISSUEThe fact that there are relatively few listed companies has its roots in the country's history, said Andrea Beltratti, professor of Political Economy at Milan's Bocconi University.

Kid Dynamite died in a car accident in Germany in 1963, leaving behind two children, including a son, Herman. Most of the more notable heirlooms, such as the mouthpiece to Kid Dynamite’s saxophone, Herman said, were donated by the family to the Amsterdam Museum. But what persists most potently of Kid Dynamite is his music. “It starts with a very long tone on the sax.”Kid Dynamite at the Sheherazade jazz club in Amsterdam in 1957. But now I recognize that intro, that long tone, as the departure of that boat.”— Sejla Rizvic

☆ Deep tech investor OTB Ventures raises $145 million for new fund and plans to expand into seed stage startups
▼ + stars: | 2022-11-22 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +3 min

OTB has raised 140 million euros ($145 million) of its 150 million euros ($155 million) target. European venture capital firm OTB Ventures has raised over 90% of its new 150 million euros (around $155 million) second fund at first close. The Amsterdam-based company, founded in 2017, will invest in 10 seed and 15 Series A-stage startups, writing checks of up to 1.5 million euros and 7 million euros respectively. Niewinski said LPs had "doubled down" since its first 108 million euros fund, which was later topped up 30 million euros by the European Investment Fund. The investor is bullish on space tech specifically and tapping into expertise at the European Space Agency and European Union Space Programme to assess startups.

LONDON, Nov 21 (Reuters) - European traders are rushing to fill tanks in the region with Russian diesel before an EU ban begins in February, as alternative sources remain limited. The European Union will ban Russian oil product imports, on which it relies heavily for its diesel, by Feb. 5. Part of the influx comes as ICE Futures Europe bans low-sulphur gasoil of Russian origin ahead of EU sanctions. Russian gasoil can still arrive in ARA storage tanks in December, but it must be moved to other tanks from which no delivery can be made, according to ICE. In January 2022, 70,000 tonnes of gasoil were delivered through the Ice gasoil futures exchange's website shows.

☆ Europe is loading up on Russian diesel 3 months before an import ban kicks in on refined fuels
▼ + stars: | 2022-11-21 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

Europe is scrambling to secure Russian diesel three months before an import ban kicks in. Russian diesel loadings to a European refining hub soared 126% between the first half of November and October, per Reuters. An EU embargo on refined Russian oil products like diesel will take effect in February. Russian diesel loadings headed for the Amsterdam-Rotterdam-Antwerp (ARA) oil refining hub rose to 215,000 barrels per day from November 1 to November 12. Europe has been racing to fill up on refined Russian oil products ahead of a European Union embargo set to take hold in February – a penalty in response to Russia's invasion of Ukraine.

REUTERS/Eduardo Munoz/File PhotoCompanies Conde Nast Publications Inc FollowNEW YORK, Nov 8 (Reuters) - Drake and 21 Savage have been sued by Conde Nast, the publisher of Vogue magazine, for using the Vogue name without permission to promote their new album "Her Loss." And none of it has been authorized by Conde Nast," according to the complaint filed on Monday night in Manhattan federal court. It said the result was "unmistakable" confusion among the public, including media that touted Drake and 21 Savage as Vogue's "new cover stars." Conde Nast, also known as Advance Magazine Publishers Inc, is seeking at least $4 million in damages, or triple the defendants' profits from their album and "counterfeit" magazine. Conde Nast said it had tried repeatedly since Oct. 31 to resolve its differences with Drake, a Toronto native, and 21 Savage, from Atlanta.

☆ This biotech stock soared 20% last week — and analysts are giving it another 36% upside
▼ + stars: | 2022-11-07 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

U.S. biotech firm Horizon Therapeutics was among the top global performers last week, with its stock soaring nearly 21% for the week. It raised its full-year 2022 net sales guidance to a range of between $3.59 billion and $3.61 billion. Analysts covering the stock are positive on its future performance, with nearly 87% giving it a "buy" rating and price target upside of 36%, according to FactSet. The stock bucked the trend of a decline in global stocks last week, with the MSCI World Index dipping around 2% for the week. Still, seven global stocks, including Horizon, soared more than 20%.

☆ Factbox: Companies count the cost of ditching Russia
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +6 min

INDITEX (ITX.MC)Zara owner will book a provision of 216 million euros after agreeing to sell its Russia stores to UAE-based Daher Group. TRATON (8TRA.DE)Volkswagen's (VOWG_p.DE) truck division Traton in September said disposing of some assets in Russia would cause a 550 million euro loss. CREDIT AGRICOLE (CAGR.PA)Credit Agricole provisioned more than 500 million euros related to its Russian exposure in Q1. LINDEThe world's largest industrial gases company's exit from Russia recorded impairments of $993 million from its Russia exit. SIEMENS (SIEGn.DE)The Munich-based engineering and tech firm said in May it would take a 600 million euro hit in Q2 for exiting Russia.

☆ Prosus and Naspers deny report they are in talks to sell Tencent stake
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +1 min

Prosus holds a 28% stake in Tencent worth $70 billion at current prices. It has said it intends to sell the stake down gradually to fund a share repurchase program. "The Naspers Board and Prosus Board reiterate their continued confidence in Tencent's long term prospects and continue to believe that the share repurchase programme is in the best interests of Prosus, Naspers and their respective shareholders," they said in a statement. Tencent shares rose sharply on Friday, gaining 10% to $226.2 HKD. Naspers shares, which usually follow movements in Tencent, rose 8.7% in Johannesburg.

☆ Akzo Nobel suspends 2023 outlook due to macroeconomic headwinds
▼ + stars: | 2022-10-20 | by ( ) www.cnbc.com time to read: +1 min

Dutch paints and coatings maker Akzo Nobel has suspended its 2023 core profit outlook, citing macroeconomic turbulence which is negatively affecting consumer confidence. The Amsterdam-based group, which makes the Dulux and Flexa paints and supplies to sectors ranging from aerospace to yachts, said several markets are expected to experience disruptions. Akzo Nobel, which had previously forecast to reach earnings before interest, taxes, depreciation and amortisation (EBITDA) of 2 billion euros ($1.96 billion) in 2023, said it would provide further guidance when it announces full-year results. The company posted a third-quarter adjusted operating income excluding the retrospective impact of hyperinflation accounting at 201 million euros, within the 195-215 million euros range it had guided for in September. Analysts in a Vara Research poll had on average estimated it to come in at 195.8 million euros.

☆ Vodafone and Altice launch 7 bln euro German broadband company
▼ + stars: | 2022-10-17 | by ( ) www.reuters.com time to read: +2 min

LONDON, Oct 17 (Reuters) - Vodafone (VOD.L) and Altice launched a joint venture on Monday to challenge Deutsche Telekom (DTEGn.DE) by building a 7 billion euro ($6.8 billion) fibre broadband network in Germany. Vodafone said the FibreCo venture would build a "fibre-to-the-home" broadband network available to 7 million German homes, allowing Britain-based Vodafone to upgrade its existing network in Germany, its biggest market. Register now for FREE unlimited access to Reuters.com RegisterConstruction will be contracted to Altice subsidiary Geodesia, with Vodafone Germany responsible for marketing the faster broadband to new customers. Vodafone said it would receive cash proceeds from Altice of up to 1.2 billion euros, which would exceed its equity contributions to the joint venture over time. Altice is the Amsterdam-based holding company bundling the assets of Franco-Israeli cable magnate Patrick Drahi.

Oct 14 (Reuters) - Dutch navigation and digital mapping company TomTom (TOM2.AS) on Friday raised its 2022 outlook, as increased car production and higher location technology sales drove third-quarter results. It had previously guided for a revenue of 470-510 million euros, with 380-420 million euros generated from location technology. "Macroeconomic uncertainties and inflationary pressures have an impact on global car production as well as our cost levels," finance chief Taco Titulaer said in a statement. Still, quarterly sales were boosted by increased car production volumes in TomTom's core markets, the company said. The group's total revenue came in at 136.3 million euros, beating analysts' 126-million-euro estimate.

Search resuls for: "The Amsterdam"

16 mentions found